SS1 First Term Commerce Lesson Note – Home Trade

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WEEK 9

SUBJECT: COMMERCE

CLASS: SS1

TOPIC: HOME TRADE

CONTENT:  

• Meaning of Home Trade
• Characteristics and functions of retail trade.

SUB TOPIC 1: MEANING OF HOME TRADE

Home   trade is the buying and selling of goods and services within a geographical area of a nation. This type of trade takes place within the boundaries of the country. It is also called internal or domestic trade.

SUB TOPIC 2 CHARACTERISTICS AND FUNCTIONS OF RETAIL TRADE

Meaning of Retail trade

Retail trade is the business activity of buying goods in small quantities from the wholesalers and selling in bits to the final consumers. Retailing is the final link in the chain of distribution. The person who engages in retail trade is called a retailer. Retail activities can be classified into small scale and large-scale retail trade.

CHAIN OF DISTRUBUTION

Manufacturer—Wholesaler——Retailer—–Consumer

CLASSIFICATION OF RETAIL TRADE

CHARACTERISTICS OF RETAIL TRADE

1. Retail trade buys goods in small quantity from the wholesaler or Producer and sells in smaller unit to the final consumer.
2. Retail trade deals with variety of goods.

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